The only constant here is the value destruction of each share...

The only constant here is the value destruction of each share unit. The cheaper & cheaper mode of raising capital works for them.
After the exhaustion of raising capital on market , it shifted off market. How can private capital dilute the interest of on-market shareholders. The percentage ownership of the original shareholders is ever deminishing .
The shares can't rise in value , because of these perpetual raisings.